Mathematical
economics is old
enough to be
respectable, but not
all economists
respect it. It has
powerful supporters
and impressive
testimonials, yet
many capable
economists deny that
mathematics, except
as a shorthand or
expository device,
can be applied to
economic reasoning.
There have even been
rumors that
mathematics is used
in economics (and in
other social
sciences) either for
the deliberate
purpose of
mystification or to
confer dignity upon
common places as
French was once used
in diplomatic
communications.
Citation:
In J. R. Newman
(ed.) The World of
Mathematics, New
York: Simon and
Schuster, 1956.